Based on the Commission’s new analysis of complaint data, income scams have a massive effect on consumers. Since 2016, consumers reported that they lost more than $610 million to scams. In the first nine months of 2020, consumers reported losses of more than $150 million.
The income scams, which the FTC and law enforcement pursued through the Operation Income Illusion, collectively defrauded over a billion dollars from consumers.
WATCH: How to spot and avoid income scams
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